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Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
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Name : |
GULF TECH WLL |
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Registered Office : |
Bin Mahmoud Area, PO Box 11545, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
13.12.1991 |
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Com. Reg. No.: |
12343/1 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject is engaged in the import and distribution of hospitality
products. |
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No of Employees : |
54 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Qatar |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
QATAR - ECONOMIC OVERVIEW
Qatar has prospered in the
last several years with continued high real GDP growth. Throughout the financial
crisis Qatari authorities sought to protect the local banking sector, with
direct investments into domestic banks. GDP is driven largely by changes in oil
prices and by investment in the energy sector. Economic policy is focused on
developing Qatar's nonassociated natural gas reserves and increasing private
and foreign investment in non-energy sectors, but oil and gas still account for
more than 50% of GDP, roughly 85% of export earnings, and 50% of government
revenues. Oil and gas have made Qatar the world's highest per-capita income
country and the country with the lowest unemployment. Proved oil reserves in
excess of 25 billion barrels should enable continued output at current levels
for about 57 years. Qatar's proved reserves of natural gas exceed 25 trillion
cubic meters, about 13% of the world total and third largest in the world.
Qatar's successful 2022 World Cup bid is accelerating large-scale
infrastructure projects such as Qatar's metro system, light rail system, the
construction of a new port, roads, stadiums and related sporting
infrastructure. The new Hamad International Airport is expected to open in
mid-2014 with an annual passenger capacity of 24 million on initial opening and
50 million when complete.
|
Source
: CIA |
Company Name :
GULF TECH WLL
Country of Origin :
Qatar
Legal Form :
With Limited Liability - WLL
Registration Date :
13th December 1991
Commercial Registration Number :
12343/1
Issued Capital :
QR 200,000
Paid up Capital :
QR 200,000
Total Workforce :
54
Activities :
Distributors of hospitality products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
GULF TECH WLL
Registered &
Physical Address
Location : Bin Mahmoud
Area
PO Box : 11545
Town : Doha
Country : Qatar
Telephone : (974) 44622480
/ 44445811
Facsimile : (974) 44622089
/ 44419311
Mobile : (974) 55564159 / 55512907
Email : cssq@qatar.net.qa
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Doha.
Name Position
Ali Salem Al Marri Managing
Director
Faisal Ali Salem Al Marri Director
Abdulrahman Butin Financial
Controller
Krishna Boldoor Sales
Manager
Jacob Jain Sales
Executive
Date of Establishment : 13th
December 1991
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 12343/1
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder (s)
Ali Salem Al Marri
Faisal Ali Salem Al Marri
Computer Support System
Doha
Activities: Engaged in the import and distribution of hospitality products.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 54 employees.
Financial highlights provided by local sources are given below:
Currency: Qatari Riyals (QR)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales QR
17,600,000 QR
18,200,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Mashreq Bank
PO Box: 173
Doha
Tel: (974) 44413213 / 44414932
No complaints regarding subject’s payments have been reported.
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.